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HomeMy WebLinkAboutRES 85-014 R E S O L U T I O N WHEREAS, in accordance with Section 183.001 of the Texas Natural Resources Code, Waterford Associates, Ltd . , a Texas Limited Partnership, has offered to the City of Beaumont conservation easement in the form attached hereto as Exhibit "A" and made a part hereof for all purposes; and, WHEREAS, the city desires to accept such conservation easement; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF BEAUMONT: THAT the conservation easement on Waterford Hotel submitted to the City of Beaumont by Waterford Associates, Ltd . , a Texas Limited Partnership be, and the same is hereby , accepted by the City of Beaumont. PASSED BY THE CITY COUNCIL of the City of Beaumont this the �/ day of 1985. Mayor - CONSERVATION PASE14PNT AGREEMENT \ THIS AGREEMENT made this 31st day of December , 1984 , by and between WATERFORD ASSOCIATES , LTD. , a Texas limited partnership, hereinafter referred to as the "Grantor" and the CITY OF BEAUMONT, Texas , hereinafter referred to as the "Grantee" . Recitals A. The Grantor is the owner of certain real property commonly known as the Waterford Hotel, and more fullv described on Exhibit "A" which is attached and a part hereof, hereinafter referred to as the "Servient Tenement" . B. The Grantee is the owner of adjacent streets and other property from which the Servient Tenement is visible, hereinafter referred to as the "Dominant Tenement" . C. The Grantee desires to acquire certain rights in the Servient Tenement. IT IS THEREFORE. AGREED: Grant of Easement 1 . For valuable consideration, Grantor hereby grants to Grantee an easement as hereinafter described. Character of Easement 2 . The easement granted herein is appurtenant to the Dominant Tenement. Restrictions 3 . The Waterford Hotel building and its use shall he subject to the following restrictions: Exhibit "A" D75/T 12-26-84 ' (a) All construction and rehabilitation work on the facade of the building shall be acne in accordance with the certified rehabilitation application made by W & S Partnership, a Texas general partnership, and its successor in interest to the National Park Service in June, 1984 , and as amended from time to time thena_fter through the Texas Historical Commission, as formally approved by those agencies (herein called the "Plan") ; (b) Once the building is rehabilitated in accordance with the Plan the Grantor shall not alter its facade or perform anv new construction thereon until the plans and specifications have been approved by the Grantee; (c) The Grantor shall preserve and maintain the facade of the building and perform the repairs necessary to keep the building and its facade in accordance with the Plan and in good working order and condition; (d) No construction or development will be commenced or continued on the Waterford Hotel building or land or both which would affect the building facade or obstruct its view, apart from work in accordance with the Plan, unless such construction or development conforms with all local, state or Federal standards for construction or rehabilitation on a certified historic structure or within the Beaumont Commercial District as 2 ve- D75/ 12-26-84 such standards may he applicable to the Waterford and unless permission is first obtained, if recruired or provided by law, from the appropriate government agency in order to maintain the status of the Waterford Hotel as a certified historic structure in the National Register of Historic Places and in order to maintain its certified rehabilitation status; (e) No use of the Waterford Hotel and no alteration of or construction on its interior shall be permitted which would change the appearance of its facade from that set forth in the Plan; (f) The Grantor shall keep the Waterford Hotel insured with fire anc'. extended coverage insurance and with insurance against such other hazards as may he covered by the form of all-risk insurance in effect at the time all in an amount sufficient to cover replacement cost, without depreciation, and to prevent any coinsurance provision from becoming effective, but in any event, for not less than 80% of the then insurable value of the building; (g) In the event the premises shall. be destroyed or damaged in whole or in part and Grantor rebuilds or repairs the destruction or damage then, if the cost of such rebuilding or repairs exceeds $250 ,000 . 00 , the Grantor shall not proceed until the plans and specifications have been approved by the Grantee; 3 D75/ 12-26-84' (h) Anv use of the Waterford Hotel inconsistent with conservation of its facade in accordance with the Plan shall not be permitted. Exclusiveness 4 . The easement, rights, and privileges granted herein are exclusive and Grantor covenants that it will not convey any other easement or conflicting rights within the area covered by this grant. Grantor' s Rights 5 . Grantor also retains , reserves , and shall continue to enjoy the use of the property for anv and all purposes which do not interfere with or prevent the use by Grantee of the within easement. Before the Grantor exercises any such reserved right which may affect the rights and easements of the Grantee the Grantor shall first notify the Grantee in writi.nq. Inspection 6 . The Grantor shall furnish the Grantee upon the Grantee' s written request with any documentation within the possessicn of the Grantor sufficient to show the condition of the building at any time as it may affect the facade. The Grantee at all reasonable times upon reasonable written notice shall have the right to enter the Waterford land and building for the purpose of inspecting and determininq if there is compliance with the terms of this Easement. 4 D75/_ 12-26-84 Enforcement 7 . In case of non-compliance with the terms of this easement b17 the Grantor and ten days after wr?tten notice demanding compliance has been served upon the Grantor, the Grantee shall have the right to institute legal_ proceedings to enforce the terms hereof and shall be entitled to all appropriate relief including, but not limited to, an order requiring the Grantor to restore the Waterford Hotel to adherence to the Plan or, if it has never been so rehabilitated in the first place , tn its condition at the time hereof. Tn addition thereto, the c=rantee shall be entitled to enter the premises and made all necessary repairs or restoration construction to the facade at the Grantor' s expense. Transfer Restriction 8 . No grant conveyance , assignment, gift or other transfer of this easement by the Grantee shall take effect and any such attempted transfer shall be void unless: (a) The transferee or grantee shall be a "qualified organization" as that term is used in Internal Revenue Service Prop. Reg. 1 . 370-A-13 (c) (1) ; and (b) The transferee or grantee shall expressly agree that it shall hold the easement for the purpose of preservinq the facade of the Waterford Hotel in accordance with the Plan. J D75i 12-26-84 Termination 9 . This easement and the rights and privileges granted by it shall terminate when and if unexpected change in the conditions surrounding the Waterford Hotel makes impossible or impractical the continued use of this easement for conservation of the Waterford Hotel facade or the purposes of the easement cease to exist for other reasons or become impossible of performance or the easement is abandoned by the Grantee. Propertv P.ight of Grantee 10 . This easement creates a property right belonging to the Grantee. When a change in conditions gives rise to a termination of this easement under Section 9 , the Grantee shall be entitled to a portion of the proceeds of any subsequent sale or exchange of the Waterford Hotel which the Grantee shall use in a manner consistent with the original conservation purposes of this easement. The proportion the Grantee shall be entitled to is . 2008 or 20. 08% based on a fair market value of the Waterford Hotel immediately before creation of this easement of $3 , 486 ,000 . 00 and a fair market value of $11.. , 786 ,000 . 00 after creation. Governing Law 11 . This easement is intended to take effect and be governed by the provisions of Section 170 of the United States Internal Revenue Code and proposed regulations �/ 6 « . D75/ 12-26-84 thereunder, 51 . 170-A-7 and 1 . 170-A-13, and Section 183 . 001 et . sea. of Title 8 of Vernon' s Texas Statutes. Entire Agreement 12 . This instrument contains the entire agreement between the parties relating to the rights herein crranted and the obligations herein assumed . Anv oral representations or modifications concerning this instrument shall be of no force and effect. Ant► mod ifi_cations of this Agreement must be in writing and must be signed by the part-,,- to be charged-. Bindina Effect 13 . This Agreement shall bind and inure to the benefit of the respective parties, personal representatives , successors , and assigns of the parties hereto. IN WITNESS A?FFREOF, the parties have executed this Agreement. WATERFORD ASSOCIATES, LTD. Grantor By Waterford Ho Company,,, Gen a1 art r j By ' ymond M. varchol Presi_eent CITY OF BEAUMONT, Grantee By: 7 «' D75I' 12-26-84 STATE OF TEXAS ) SS. COUNTY OF JEFFERSON ) Before me Joann Cravens Notary Public, on this day personally appeared Raymond M. Warchol , known to me to be the person whose name is subscribed to the foregoing_ instrument and known to me to be the President of the Waterford Hotel Company, a Texas corporation which is general partner of Waterford Associates , Ltd. , a Texas limited partnership, and acknowledged to me that he executed said instrument for the purposes and consideration therein expressed , and as the act of said corporation. Given under my hand and seal of office this 31stday of December , 1984 . (seal) Nbtary Public This Instrument prepared by: JOANNCRAVEN$, DONALD M. THnMPSON Notary Public, FOB the 5►a.ra Of 1rrXi5. Laser Schostok Kolman & Frank (/ v 189 W. Madison '••;` es `i''� My Commi"iOA 7/31/198:.tAo,r•S Chicago, IL 60602 312 641-1300 8 s d EXHIBIT A A 40 . 355 square-foot tract of land out of Block Number Thirty-eight (38) of the ORIGINAL TOWN OF BEAUMONT, Jefferson County, Texas , according to the map or plat of said ORIGINAL TCWN OF BEAUMONT of record in the office of the County Clerk of Jefferson County, Texas , being described by metes and bounds as follows : BEGINNING at the Northeast corner of Lot 181 , Block 38 , the said beginning corner being the intersection of the West right-of-way line of Pearl Street and the South right-of.-way line of Wall. Street, and for the purposes of this description the direction of Pearl Street is considered to be North and South; THENCE S. 400 35 ' E. along the 1,7est line of Pearl Street and the East line of Lots 181. and 183 , a distance of 1RO . 00 feet to corner at the Southeast corner of Lot 183 and the Northeast corner of Lot 172; THENCE S. 490 25 ' W. along the South line of Lot 1R3 and the North line of Lots 172 and 173 , a distance of 1.20 . 00 feet to corner at the Northwest corner of Lot 173 and the Northeast corner of Lot 174; THENCE N. 400 35 ' W. into Lot 183 a distance of 30 . 00 feet to corner. THENCE S. 490 25 ' W. at a distance of 30 . 00 feet cross the West line of Lot 183 and the East line of Lot 182 , and continuinc along said course a total distance of 60 . 00 feet to corner; THENCE N. 400 35 ' W. a distance of 30. 00 feet to corner in the North line of Lot 182 , the Southeast corner of Lot 178 and the Southwest corner of Lot 179; THENCE S. 490 25 ' West along the North line of Lot 182 and the South line of Lots 178 and 177 a distance of 118 . 40 feet to corner in the East right-of-wav line of the Orleans Street and Pearl Street Connector Street; said corner being located N. 491 35 ' E. a distance of 1 . 60 feet from the Northwest corner of Lot 182 and the Southwest corner of Lot 177; THENCE in a Northeasterly direction along the arc of a curve to the right, and along the East right-of-wav line of said Connector Street , a distance of 119. 21 feet to corner at the end of said curve , the radius of said curve being 12.7 . 74 feet with a central_ angle of 53 ° 28123" ; THENCE N. 210 54 ' 07" E. , continuing along the Fast line of said Connector Street, a distance of 57 . 81 feet to corner at the Northeast corner of Lot 178 and the Northwest corner of Lot 1.79 in the South right-of-way line of Mall Street; EXHIBIT A Page 2 THENCE N. 49° 25 ' E along the North line of Lots 179 , 180 and 181 and the South line of Wall Street, a distance of 180 . 00 feet to the place of beginning, SAVE AND EXCEPT the following tract, to-wit: BEING a portion of Lots 177 and 178 of Block 38 of Original Town Site of Beaumont, Texas , and being more particularly described as follows: BEGINNING at the NE corner of Lot 178 , being also the MW corner of Lot 179, and said point hei.ng in the southerly right-of-way line of Wall Street; THENCE S 40°35 ' E along the common line between Lot 178 and Lot 179 a distance of 120 feet to a point for corner; sai.c9 point being the southeast corner of Lot 178; THENCE S49 025100" W along the south line of Lots 177 and 178 a distance of 118 . 4 feet to a point for corner; said point being the intersection of the new Orleans Street right of way with the south line of Lot 177; THENCE in a northeasterly direction along the arc of a curve which has a central angle of 35 146150" , a radius of 127 . 74 feet, a tangent of 4.1 . 23 feet, a chord distance of 78 . 48 feet, a distance of 79 . 77 feet to a point; said point being in the south line of the north 50 feet of Lot 177; THENCE along the arc of a curve to the right which has a central angle of 17°41133" , a radius of 127 . 74 feet, a tangent of 19 . 88 feet, a chord distance of 39 . 29 feet, a distance of 39 . 44 feet to a point for corner; THENCE N. 210 54 ' 07" E a distance of 57 . 81 feet to the place of beginning.